It might do, depending on which benefits you get. If you’re getting any means-tested benefits – where your eligibility is based on how much money you have – the value of your home isn’t counted if you’re living in it, but money you get from the sale of it would be. Pension Credit is a means-tested benefit. If you get Personal Independence Payment, Disability Living Allowance or Attendance Allowance, these won’t be affected.
It’s a good idea to seek advice before you sell your home if you’re in any doubt about how this will affect your income from benefits. Make sure you keep the office that pays your benefits informed of any change to your income, savings and circumstances, to avoid overpayment. Call the Independent Age Helpline for advice (0800 319 6789).